Wells Fargo Private Bank Extends Elder Services Program to East Coast

Provides Unique Wealth and Life Management Services for Clients from
Florida to Connecticut

July 22, 2010 01:00 PM Eastern Daylight Time

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo Private Bank, a business within Wells Fargo & Co.
(NYSE:WFC), has expanded its Elder Services program to the East Coast.
The program is a premium wealth and life management solution of Wells
Fargo Private Bank. It combines wealth management services with life
management assistance to help aging adults with everything from loss of
a spouse to mobility and health challenges as well as investment
management, ultimately helping clients maintain their independence and
quality of life.

“Over the next 20 years, the U.S. population is expected to grow by 18
percent, while the elderly population is projected to see 78 percent
growth. We are now positioned to help serve clients from coast to coast
as these needs increase,” said Keith Klovee-Smith, national manager of
Wells Fargo Elder Services. “Seniors often live far from relatives, and
even when they’re close by, relatives may find personal and financial
management challenging. We expect the need for Elder Services to triple
over the next two decades, which makes our presence in the East so
crucial. We are committed to serving our clients in all stages of their
lives.”

The Elder Services program can help clients with everything from paying
bills, finding in-home help and monitoring health issues to managing
commercial real estate in conjunction with our Real Estate and Specialty
Asset groups. Specialists take a holistic and proactive approach to
working with clients as they navigate the complexities of life
management that come with aging.

“Specialists help clients in building out systems of support both within
the bank and externally in the community,” added Klovee-Smith. “We have
a strict due diligence process with outside partners. We want to create
a safety net for our clients consistent with their needs and
preferences. To this end, we provide a health and wellness assessment,
medical claims processing and assistance with personal income taxes as
part of all of the other assistance given.”

Wells Fargo established the Elder Services program in 1997 and has
specialists in over 40 metropolitan areas across the country. The
Private Bank has recently expanded Elder Services to Wells Fargo Private
Bank offices in Connecticut, Delaware, Florida, North Carolina,
Pennsylvania, South Carolina, Southern New Jersey, Virginia and
Washington, D.C. Plans currently are underway to add coverage throughout
the East as needs arise.

Unique Benefits of Elder Services

Elder Services specialists work closely with their clients’ outside
attorneys, accountants, insurance specialists, and healthcare providers
to coordinate financial and life management services for their clients.

The Elder Services relationship team also works with the client to
establish a schedule for regular check-ins to address their changing
needs.

“Aging adults are often targets for physical, emotional and financial
abuse, making the team’s regular check-in calls and visits a significant
benefit to clients,” Klovee-Smith said.

The program also benefits clients’ children, offering continuous,
in-person support and keeping family members updated according to the
client’s wishes. Wells Fargo helps clients and family members resolve
sensitive issues, such as giving up drivers’ licenses, moving into
retirement homes, or planning funerals.

“Aging individuals do not want someone to take over their lives, but
they do require a different type of help,” Klovee-Smith said. “Our
integrated service can address these changing requirements, helping to
achieve the goals and needs of our clients and their families.”

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.2 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial
finance through more than 10,000 banking stores, 12,000 ATMs, the
Internet (wellsfargo.com and wachovia.com), and other distribution
channels across North America and internationally. With more than
278,000 team members, Wells Fargo serves one in three households in
America. Wells Fargo & Company was ranked #19 on Fortune’s
2009 rankings of America’s largest corporations. Wells Fargo’s vision is
to satisfy all our customers’ financial needs and help them succeed
financially. (7/21/10)